Lakes Notes definition

Lakes Notes means, collectively, the Existing Loan Note, the Development Loan Note, and the Tribal Support Note.

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Lakes Notes means the Interim Promissory Note and the Operating Note, each as defined in the Development and Management Agreement.

Lakes Notes the Lakes Development Note, the Lakes Facility Note, the Lakes Working Capital Advance Note, the Minimum Payments Note, the Transition Loan Note and the Non-Gaming Land Acquisition Line of Credit, each as defined in the Development Agreement and in each case as in effect on the date of the FF&E Facility Agreement.

Examples of Lakes Notes in a sentence

• Use of the laws of State of Minnesota for the foregoing limited purpose of interpretation and construction is not intended to and shall not otherwise incorporate substantive laws and regulations of the State of Minnesota or any other State, including usury laws or any present or future state law provisions, that would restrict the rate of interest upon any loan, advance or other financial accommodation contemplated by this Agreement, the Lakes Notes or any other Transaction Document.

• Unless specifically provided otherwise, all actions and decisions of the parties, all provisions of this Agreement, the Lakes Notes and any other Transaction Document shall be governed by a standard of commercial reasonableness.

• In all cases, the amounts shown on Lakes’s books and records as being the unpaid balance of principal, accrued interest and other charges, fees and expenses under the Lakes Notes, this Agreement and the other Transaction Documents shall be prima facie evidence thereof.

• The Authority and the Tribe have all requisite power and authority to enter into this Agreement, the Lakes Notes and such other Transaction Documents and to perform their obligations under this Agreement, the Lakes Notes and such other Transaction Documents or related security documents and instruments described herein, and to consummate all other transactions contemplated by this Agreement, the Lakes Notes and the other Transaction Documents.

• This Agreement may be terminated upon notice by the Authority to Lakes if a Lakes Event of Default has occurred (it being understood that such termination will not affect the obligation of the Tribe and the Authority to pay, in accordance with the provisions of Section 9.7(b) of this Agreement, the Lakes Notes and any other amounts owing to Lakes or any Affiliate of Lakes from the Tribe or the Authority under this Agreement, the Lakes Notes and the other Transaction Documents).

• The Authority and the Tribe further agree that any arbitration proceeding held in connection with any dispute with respect to this Agreement, the Lakes Notes or any other Transaction Document may be consolidated with any other arbitration proceeding between Lakes or any Affiliate of Lakes, on one hand, and the Authority or the Tribe or any Affiliate of the Authority or the Tribe, on the other hand.

• The Tribe and the Authority shall not impose any tax, fee or assessment on Lakes, any Contractor, the Gaming Facility, this Agreement, the Lakes Notes other than reasonable pass-through taxes on Project patrons which are consistent with Gaming resort industry practices.

• The Authority and the Tribe have taken all action required by tribal law without the necessity of further action to authorize the execution, delivery and performance of this Agreement, the Lakes Notes and the other Transaction Documents to which either is a party.

• The notice shall be in writing, and shall state the place, date, hour, and purpose of the meeting, and shall indicate that it is being issued at or by the direction of the Partners or Unitholders calling the meeting.

• If the Lakes Notes have been paid in full, the Tribe shall be entitled to the entirety of the Remainder Payment.